I can understand why you mightn’t trust us, but I would encourage EA’s to consider that we need to back ourselves, even though I’ve certainly been shaken by the whole FTX fiasco. Unfortunately, there’s an adverse selection effect where the least trustworthy actors are unlikely to recurse themselves in terms of influence, so if the more trustworthy actors recurse themselves, we will end up with the least responsible actors in control.
So despite the flaws I see with EA, I don’t really see any choice apart from striving as hard as we can to play our part in building a stronger future. After all, the perfect is the enemy of the good. And if the situation changes such that there are others better equipped than us to handle these issues and who would not benefit from our assistance, we should of course recurse ourselves, but sadly I believe this is unlikely to happen.
I think the global argument is that power in EA should be deconcentrated/diffused across the board, and subjected to more oversight across the board, to reduce risk from its potential misuse. I dont think Zoe is suggesting that any actor should get a choice on how much power to lose or oversight to have. Could you say more about how adverse selection interacts with that approach?
Even if every actor in EA agreed to limit its power, we wouldn’t be able to limit the power of actors outside of EA. This is the adverse selection effect.
This means that we need to carefully consider the cost-benefit trade off in proposals to limit the power of groups. In some cases, ie. seeing how the FTX fiasco was a larger systematic risk, it’s clear that there’s a need for more oversight. In other cases, it’s more like the analogy of putting Frodo’s quest on hold until we’ve conducted an opinion survey of Middle Earth.
(Update: Upon reflection, this comment makes me sound like I’m more towards ‘just do stuff’ then I am. I think we need to recognise that we can’t assume someone is perfectly virtuous just because they’re an EA, but I also want us to retain the characteristics of a high trust community (and we have to check up on every little decision is a characteristic of a low trust community).
Thanks. That argument makes sense on the assumption that a given reform would reduce EA’s collective power as opposed to merely redistributing it within EA.
Indeed Lukas, I guess what I’m saying is: given what I know about EA, I would not entrust it with the ring
I don’t understand what this means, exactly.
If you’re talking about the literal one ring from LOTR, then yeah EA not being trustworthy is vacuously true, since no human without mental immunity feats can avoid being corrupted.
Indeed Lukas, I guess what I’m saying is: given what I know about EA, I would not entrust it with the ring .
I can understand why you mightn’t trust us, but I would encourage EA’s to consider that we need to back ourselves, even though I’ve certainly been shaken by the whole FTX fiasco. Unfortunately, there’s an adverse selection effect where the least trustworthy actors are unlikely to recurse themselves in terms of influence, so if the more trustworthy actors recurse themselves, we will end up with the least responsible actors in control.
So despite the flaws I see with EA, I don’t really see any choice apart from striving as hard as we can to play our part in building a stronger future. After all, the perfect is the enemy of the good. And if the situation changes such that there are others better equipped than us to handle these issues and who would not benefit from our assistance, we should of course recurse ourselves, but sadly I believe this is unlikely to happen.
I think the global argument is that power in EA should be deconcentrated/diffused across the board, and subjected to more oversight across the board, to reduce risk from its potential misuse. I dont think Zoe is suggesting that any actor should get a choice on how much power to lose or oversight to have. Could you say more about how adverse selection interacts with that approach?
Even if every actor in EA agreed to limit its power, we wouldn’t be able to limit the power of actors outside of EA. This is the adverse selection effect.
This means that we need to carefully consider the cost-benefit trade off in proposals to limit the power of groups. In some cases, ie. seeing how the FTX fiasco was a larger systematic risk, it’s clear that there’s a need for more oversight. In other cases, it’s more like the analogy of putting Frodo’s quest on hold until we’ve conducted an opinion survey of Middle Earth.
(Update: Upon reflection, this comment makes me sound like I’m more towards ‘just do stuff’ then I am. I think we need to recognise that we can’t assume someone is perfectly virtuous just because they’re an EA, but I also want us to retain the characteristics of a high trust community (and we have to check up on every little decision is a characteristic of a low trust community).
Thanks. That argument makes sense on the assumption that a given reform would reduce EA’s collective power as opposed to merely redistributing it within EA.
I don’t understand what this means, exactly.
If you’re talking about the literal one ring from LOTR, then yeah EA not being trustworthy is vacuously true, since no human without mental immunity feats can avoid being corrupted.